COLOMBO, 13th September, 2024 (WAM) -- Sri Lanka’s economy grew faster than expected in the second quarter, bolstering sentiment ahead of a crucial election that could affect policy as the country recovers from its worst crisis in decades, Bloomberg reported on Friday.
Gross domestic product rose 4.7 percent in the three months to June from a year ago, the Statistics Department said Friday.
The south Asian island nation will hold a presidential election on 21st September. The incumbent government secured a US$3 billion bailout from the International Monetary Fund to finance the nation’s recovery from a default-induced slump.
To bolster growth further, Sri Lanka’s new government will have to complete restructuring debt and follow through on IMF-mandated reforms to keep the funds flowing.